Browse Forums Real Estate Re: Making an offer before auction advice 24Jun 23, 2010 7:35 pm Blog: http://bluemistkids.blogspot.com "Never be afraid to try something new. Remember, amateurs built the ark, and professionals built the Titanic." Re: Making an offer before auction advice 32Jun 26, 2010 6:09 pm travelbug mishb The problem is that you have this information and you can use it to assess a fair price for the house factoring in potential repairs, however anyone else making an offer may not have had a building inspection done and may not lower their offer as a result. EVERYONE will have the information if you let them know at auction. Happens all the time. Just make a point of talking about the structural defects as you walk around and are near other people. Say to your husband "but I'm REALLY worried about how much it will cost to do the underpinning. Lucky we got the building report. You know so and so paid $10,000 for theirs." etc. Factor the cost into your purchase price. Good luck. If you were all set to bid at an auction, would you really be swayed by these sorts of comments made by a competing bidder? I didn't realise it was that easy to scare people off from bidding against you. Re: Making an offer before auction advice 33Sep 16, 2010 5:22 pm I am SO impatient to know what happens with this auction... We're sort of waiting to see what happens at an auction for a place WE love, and I'm really hoping to read a success story beforehand...*fingers crossed for the original poster* As far as being able to scare off other potential bidders at auctions with talk of stumps and underpinning and structural defects, well...I guess maybe...80% of people at auctions have no interest in bidding...and of the 20% that do, maybe 10-15% of them are interested but not IN LOVE with the property, so such talk would possibly drive them away. Any seed of uncertainty could be enough, if they're not over 95% committed already, you know? For them, there will be other properties that they can get the inspection done on in time, and might be in love with. They won't bid. It's the other 10-5% of people that will be more difficult to sway... How the hell did I become a senior member!? I know nothing! Versaloc is a mortarless besser block system that still needs a properly engineered footing. If you just do a 400x200 footing it will fail in time. At 17m long you need it… 1 17249 I am in the same situation, would you be able to give some insights in to this? I am in SA 8 17038 Ardo That is so funny! I wonder how many people know who Larry Haun is these days. I have a couple of young guys we call Mo 1 & Mo 2 who run a crew of 6 boys and… 9 15509 |